There are no monetary tax implications for the person who gives the gift or for the person who receives the gift. It isn't counted as income for the giftee and it is not a deduction for the gifter.
The person who gives a gift that is more than $15,000 is required to fill out Form 709 United States Gift (and Generation-Skipping Transfer) Tax Return. This form is not included with TurboTax because few people need it. The form is not filed with your tax return. This is a separate form to be completed and mailed.
Here is a link to the IRS Form 709 page.
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